Financial Daily from THE HINDU group of publications
Thursday, Mar 07, 2002
Financial Daily from THE HINDU group of publications Thursday, Mar 07, 2002 |
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Marketing
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Strategy US seafood chain to enter India Ratna Bhushan
NEW DELHI, March 6 IF you've had your fill of American and Italian food, here's another kind of foreign cuisine coming your way. Yorkshire Global Restaurants (YGR), the US-based $1.2-billion seafood chain, is expected to make an entry into the domestic market soon. According to industry sources, the Yorkshire Global chain is in talks with the Deepak Ansal group for a tie-up to bring two of its flagship brands into India. The two likely restaurant brands are Long John Silver and A&W through a tie-up with the Delhi-based Ansal group, sources said. When contacted by Business Line, an official at the Deepak Ansal office confirmed that the two parties were in talks for a tie-up, but declined to divulge details. "The development is at a preliminary stage," the official said. However, according to industry sources, the Ansal group has allocated an investment of close to Rs 60 crore for setting up YGR restaurants in pockets of northern and western parts of the country. While A&W is a quick service franchise restaurant chain, Long John Silver is America's largest quick service seafood restaurant chain. With over 80 years of experience in quick service restaurant (QSR) operation, the Yorkshire Global Restaurants chain operates over 2,000 restaurants across some 16 countries, with a combined annual sales of over $1.2 billion. YGR is the parent holding company of both A&W Restaurants Inc and Long John Silver's Restaurants Inc. The privately-held YGR is currently the 14th largest US-based restaurant chain. It is owned by a group of investors including Grotech Capital. According to industry sources, the chain is seeking franchisees in the US, apart from Asia, Europe, Canada, the West Asia and Latin America. Last year, the Yorkshire Global chain had introduced a global information system with the objective of identifying potential sites for setting up new restaurants.
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